Arizona State Retirement System Has $38.05 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Arizona State Retirement System lifted its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,982 shares of the medical equipment provider’s stock after buying an additional 4,446 shares during the period. Arizona State Retirement System’s holdings in Boston Scientific were worth $38,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $29,000. Dunhill Financial LLC grew its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Boston Scientific during the third quarter worth approximately $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,322 shares of company stock valued at $14,321,068 over the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $103.57 on Wednesday. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market cap of $152.85 billion, a price-to-earnings ratio of 82.86, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The firm has a 50 day moving average of $99.82 and a 200-day moving average of $90.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, equities analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Truist Financial lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $108.91.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.